Tax on Stock Exchange Members to constitute adjustable tax Section 233A
Tax on Stock Exchange Members: As per section 233A of the Income Tax Ordinance, 2001 PSX is obliged to collect tax @ 0.02% from its members upon the purchase and sale of shares in lieu of tax on commission earned by such members.
Prior to the Finance Act, 2018 the tax collected under section 233A of the Ordinance constituted final tax.
Pursuant to the Finance Act, 2018 the taxes collected through a brokerage house, by a registered stock exchange in Pakistan under section 233A of the Ordinance from its Taders on the purchase and sale of shares in lieu of tax on commission earned by such members shall be adjustable in nature.
Read more blogs here and to contact FBR click here.
